Amazon Product Research: Finding Hidden Gems, Golden Opportunities and Hidden Gems

Imagine that you’re about ready to enter Amazon.com’s huge marketplace and hope to strike it rich. Only one thing is wrong: You don’t really know where to dig. Amazon product research is key to discovering those gold nuggets. Let’s explore how digging a bit deeper can transform a humble search to entail countless opportunities.

Amazon can first be compared with a bustling marketplace that has millions of products. Imagine strolling in this vast marketplace. The experience is both exciting and overwhelming. This is not the time for a simple stroll. It’s important to saunter with intelligence and keep an eye out for those diamonds.

Ever heard the phrase: “Don’t Judge a Book By Its Cover?” The same goes for products. You might think it looks like a million dollar product, but taking a closer look could reveal its flaws much faster than an eloquent squirrel darting into a nearby tree. Look at customer reviews. What people have to say, the good, the bad, or the downright ugly, is important. These reviews will be as helpful as a bright lighthouse in a fog.

Avoid the pitfalls of overly competitive niches. If you’re trying to sell lion pencil pouches but everyone else does, then goodluck with standing out. Find the unsung hero products, those that may not be well-known but still generate buzz. If you look at unicorn-shaped products, they may have fewer rivals but a growing market.

Icarus: Do you remember him? The story of Icarus is a good one. If you price your products too expensively, buyers will turn their noses at you. Keepa, CamelCamelCamel and other tools can help you spy on competitor pricing. Smartly play the game. You can be competitive without being greedy.

Hold on. You’ve probably thought about the seasonal trends. In the winter, cozy blankets are in high demand. Sales can increase if you catch the right trends. Google Trends helps you spot seasonal shifts.

Let’s start with numbers. Often, the devil can be found in the small details. But sometimes, it is also in numbers. Pay attention at all times to the profit margins and other hidden charges. Helium 10 makes it easy to crunch your numbers. You can get a clearer picture of profitability.

Let me share with you a personal story: A friend struck it rich with quirky kitchen gadgets. In browsing daily average sales, she found that customized cookie cutters had been on the rise. Not your average cookie cutters, but emojis & fantastical characters. She used data and a niche to make money. The rest as they say is history.

No one enjoys sifting through unending data. But it’s here that the magic happens. Think of yourself like a modern treasure hunter. Use data as a map, and analytics as the shovel. Start by analysing average daily sales and searches. These metrics will help you uncover new business opportunities.

Aside from metrics, have you ever taken a look at the bestseller rank (BSR), also known as the ranking of best-selling products? Amazon keeps a secret about which products sell well. Lower BSRs often lead to higher sales. But don’t only look at BSR, but also its sales speed.

Imagine that your product represents a tree. If it’s an enchanting Christmas tree decked out with twinkling light, it will standout. If you use beautiful images and descriptions that are accurate, your product will stand out amongst the monotony.

Engage audiences through Q&A. It’s a bit like hosting a small interview. What are some of their concerns? What are the benefits they seek? These answers can provide you with valuable information to help refine your product.

Let’s close this session out with a catchphrase: Always be ahead of the game, but don’t become complacent. Your market research strategies should be regularly updated. Staying up-to-date is the best way to stay ahead in this market that changes faster than a Rainbow Chameleon. You should keep these tips close to your heart as you traverse this expansive market. Happy treasure-hunting!